Clarivate's (CLVT) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Clarivate (NYSE:CLVT - Get Free Report)'s stock had its "sector perform" rating reiterated by equities researchers at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock. Royal Bank of Canada's price objective indicates a potential upside of 23.84% from the stock's current price.

CLVT has been the subject of several other research reports. Barclays reduced their target price on shares of Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, November 7th. William Blair downgraded shares of Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.10.

Clarivate Stock Performance

CLVT traded up $0.01 during trading on Thursday, hitting $4.85. 8,817,103 shares of the stock were exchanged, compared to its average volume of 5,505,494. The firm has a market capitalization of $3.44 billion, a P/E ratio of -5.05 and a beta of 1.17. Clarivate has a 1-year low of $4.22 and a 1-year high of $9.07. The stock has a fifty day moving average price of $5.12 and a two-hundred day moving average price of $5.79. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate declared that its Board of Directors has initiated a share buyback plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 12.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Clarivate

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after acquiring an additional 3,245 shares during the period. KBC Group NV increased its stake in Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company's stock valued at $73,000 after purchasing an additional 2,549 shares in the last quarter. RPO LLC acquired a new position in Clarivate during the fourth quarter worth $55,000. Schonfeld Strategic Advisors LLC purchased a new stake in Clarivate during the fourth quarter worth $56,000. Finally, Kathmere Capital Management LLC acquired a new stake in Clarivate in the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 85.72% of the company's stock.

Clarivate Company Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.